The economic crisis also puts Xiaomi in a difficult position

Xiaomi company He announced the financial results for the third quarter of 2022, a period that also witnessed a sharp slowdown for the Chinese giant, confirming the fact that the economic crisis affects everyone to a certain extent.

In particular, Xiaomi has registered a 10% decrease in revenue year-over-year And a significant decrease in net profit compared to the same period of the previous year (even -59%).

Even for Xiaomi, the financial results are bad

To influence these negative results, there seems to be a desire for Xiaomi Continue to pursue your own projectseven the most innovative or minor and this regardless of the economic crisis, because of which other producers preferred instead to focus only on the main programs.

According to data released by Canalys, Xiaomi ranks third in the ranking of smartphone manufacturers for shipments: in fact, the Chinese giant shipped 40.5 million devices in the third quarter, against market share by 13.6% (equivalent to -7.8% yoy).

The first two places are far from Xiaomi, which is respectively occupied by Samsung (with 64.1 million devices shipped and market share by 21.5%) and from Apple (with 53 million devices shipped and market share by 17.8%).

As forEuropeXiaomi in the third quarter of 2022 conquered a market share by 23.3% (up 1.8% year-on-year), ranking second behind Samsung in the amount of smartphones shipped.

Xiaomi has made sure to stress that it is sticking to its strategy Globalisationwhich highlights that the smartphone user base is growing.

Xiaomi also wanted to emphasize that it continued to invest in research and development (+25.7% yoy), while increasing the number of employees in this specific segment.

In essence, the Chinese giant has no intention of giving up on technological innovation, which is considered one of the most important aspects of the success of its products.

Finally, notable results are also recorded by the smart home division, a sector in which the Chinese giant is increasingly establishing itself.

You may also be interested in: The best Xiaomi smartphones of the month

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